Federal Reserve Chairman Ben Bernanke said Wednesday uncertainties surrounding the outlook for the economy had risen recently, and that future interest-rate decisions by the central bank would depend on how the economy evolves.
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Bernanke said that while inflation, outside of volatile food and energy prices, seems likely to moderate gradually over time, the risks to that forecast were to the upside.
But he also expressed concern about the slowdown in the U.S. housing market, which he said had been the principal source of a slowdown in economic growth that began last spring.
OK, so that's not exactly an agreement since he's not looking at things from the ground, up. Still he's seeing what I think is a trickle-up effect, where people are start spending less on little things and eventually spend less on more and more expensive things until they stop buying houses.
I'm no expert, just using my brain and what I see. Things look bad to me. I'd invest in gold if I had the money to.
Just sayin'!
I read this this morning also. And yet just last night, I heard a senator or someone on NPR saying "Our economy is the envy of the world!"
ReplyDeleteYeah, I don't believe that envy of the world thing any more at all. I think the EU, Japan, the UK and China are doing better than us. I mean, sure, I'm OK financially, but only because I don't own a car or have kids. According to American stereotypes I should have a car, a kid and a house right now. I have none of the above, which is why I can afford to pick up a new gadget every so often...
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